MOPANI COPPER MINES IS SET TO INVEST 206 MILLION DOLLARS IN THE OPENING OF THE TWO NEW SHAFTS IN KITWE WHICH WILL SUBSEQUENTLY EXTEND ITS LIFE SPAN TO 25 YEARS.
THIS INVESTMENT IS EXPECTED TO CREATE OVER 500 JOBS FOR THE LOCAL PEOPLE.
MINES IN KITWE LIKE OTHER TOWNS SUCH AS KABWE AT THE MOMENT NEED MORE INVESTMENT SO THAT THEY CAN STAY AFLOAT.
THIS INVESTMENT IS EXPECTED TO CREATE OVER 500 JOBS FOR THE LOCAL PEOPLE.
MINES IN KITWE LIKE OTHER TOWNS SUCH AS KABWE AT THE MOMENT NEED MORE INVESTMENT SO THAT THEY CAN STAY AFLOAT.
MINES AND MINERAL DEVELOPMENT DEPUTY MINISTER GABRIEL NAMULAMBE EXPLAINS THAT THE EXPECTED COPPER ORE OUTPUT FOLLOWING THIS INVESTEMT IS 4,000 TONNES PER ANNUM.
COPPER PRODUCTION IN ZAMBIA, AFRICA'S TOP PRODUCER OF THE METAL, HAS RISEN TO 625,844 TONNES IN THE PERIOD JANUARY TO SEPTEMBER 2010 VERSUS 517,512 TONNES IN THE SAME PERIOD LAST YEAR, THE CENTRAL BANK HAS REVEALED .
BANK OF ZAMBIA HEAD OF PUBLIC RELATIONS KANGUYA MAYONDI HAS TOLD REUTERS NEWS AGENCY THAT COPPER EXPORTS HAVE RISEN TO 614,455 TONNES IN THE FIRST THREE QUARTERS OF 2010 COMPARED WITH 497,905 TONNES IN 2009.
COBALT PRODUCTION INCREASED TO 6,362 TONNES IN THE FIRST THREE QUARTERS OF 2010 FROM 3,983 TONNES IN THE SAME PERIOD OF 2009 AND EXPORTS ALSO ROSE TO 6,236 TONNES IN 2010 COMPARED WITH 3,987 TONNES IN 2009.
DESPITE THE RISE IN THE EXPORTS OF COPPER AND PRICES, GOVERNMENT HAS IGNORED CALLS FROM VARIOUS STAKEHOLDERS TO HAVE THE WINDFALL TAXES REINTRODUCED SO THAT THE COUNTRY CAN BENFIT FROM THE BOOM IN THE METAL.
THE GOVERNMENT IN ITS REFUSAL HAS FROM TIME TO TIME REITERATED ITS STATEMENT THAT REINSTATING THE WINDFALL TAX WILL DISCOURAGE INVESTMENT IN THE SECTOR HENCE OTHER FORMS OF TAXES WILL BE USED TO MAKE THE INVESTOR PAY BACK IN ONE WAY OR THE OTHER.
THIS IS HOWEVER AGAINST PUBLIC DEMANDS THAT THE WINDFALL TAXES BE RE-INTRODUCED.
END////
BANK OF ZAMBIA HEAD OF PUBLIC RELATIONS KANGUYA MAYONDI HAS TOLD REUTERS NEWS AGENCY THAT COPPER EXPORTS HAVE RISEN TO 614,455 TONNES IN THE FIRST THREE QUARTERS OF 2010 COMPARED WITH 497,905 TONNES IN 2009.
COBALT PRODUCTION INCREASED TO 6,362 TONNES IN THE FIRST THREE QUARTERS OF 2010 FROM 3,983 TONNES IN THE SAME PERIOD OF 2009 AND EXPORTS ALSO ROSE TO 6,236 TONNES IN 2010 COMPARED WITH 3,987 TONNES IN 2009.
DESPITE THE RISE IN THE EXPORTS OF COPPER AND PRICES, GOVERNMENT HAS IGNORED CALLS FROM VARIOUS STAKEHOLDERS TO HAVE THE WINDFALL TAXES REINTRODUCED SO THAT THE COUNTRY CAN BENFIT FROM THE BOOM IN THE METAL.
THE GOVERNMENT IN ITS REFUSAL HAS FROM TIME TO TIME REITERATED ITS STATEMENT THAT REINSTATING THE WINDFALL TAX WILL DISCOURAGE INVESTMENT IN THE SECTOR HENCE OTHER FORMS OF TAXES WILL BE USED TO MAKE THE INVESTOR PAY BACK IN ONE WAY OR THE OTHER.
THIS IS HOWEVER AGAINST PUBLIC DEMANDS THAT THE WINDFALL TAXES BE RE-INTRODUCED.
END////
No comments:
Post a Comment